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3/06/17
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R3, a $30 mil, loft-style project in Marina del Rey consisting of 67 coastal contemporary apartments and more than 5k sf of creative office space, was just completed. The project, located at 4091 Redwood Ave, just south of Washington Blvd, was developed by California Landmark Group (CLG) and Cayton Capital.
R3 features a mix of one- and two-bedroom floor plans ranging in size from 685 sf to 1.7k sf. Interiors feature high ceilings with exposed ductwork, plush designer carpeting, GE stainless appliances, kitchen islands, reclaimed wood accents, walk-in closets, deep soaking tubs, and more. Amenities include a rooftop pool and lounge, state-of-the-art fitness center, and a Zen yoga garden with complimentary Yoga Sessions by a Certified Instructor.
Approximately 35% of the units were leased within 30 days of opening. CLG expects the remaining units to be rented by early summer.
LA-based CLG has been an active player in the Marina Arts District, which has evolved from an industrial zone to a “live/work oasis for the creative class,” according to CLG President Ken Kahan. The company has invested more than $200 mil in the area since 2004, delivering approximately 500 rental units.
Once home to auto repair and body shops, the Marina Arts District is now an enclave with contemporary apartments and state-of-the art creative commercial space, while still retaining its original industrial feel with edgy, urban designs. The neighborhood is an easy walk to an abundance of shopping, dining and entertainment options, located in both the Marina shopping district and the eclectic Abbot Kinney neighborhood. It is also an easy commute by car or bicycle to Venice Beach, Santa Monica and Culver City.
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